Crypto Price Analysis July-05: ETH, XRP, ADA, DOGE, and DOT
This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polkadot. Ethereum (ETH) This week was brutal and Ethereum crashed by 16%. Most
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Polkadot Price Predictions and News
Polkadot in the Charts: What do On-Chain Data and Technical Analysis Indicate for DOT’s Price?
Crypto Price Analysis July-12: ETH, XRP, ADA, DOGE, and DOT
Crypto Price Analysis July-05: ETH, XRP, ADA, DOGE, and DOT
Polkadot Price Analysis: DOT Explodes by 13% Weekly but is the Worst Really Over?
Polkadot (DOT) Price Prediction: Huge Move Incoming (Analyst)
Crypto Price Analysis June-29: ETH, XRP, ADA, DOGE, and DOT
Polkadot Price Analysis: DOT Soars 10% Weekly, Bear Trap Confirmed?
BTC Fails to Reclaim $62K, SOL and DOT Soar by 8% Daily (Market Watch)
BTC Price Slips Toward $60K Again, DOT Falls Further Away From $6 (Market Watch)
Polkadot Price Analysis: Where Is DOT Heading Next After Losing the $6 Level?
How to read Polkadot (DOT) Charts?
Although there are many ways that trading tools can present a chart of the Polkadot price, the most common and popular ones use Japanese candlesticks. Every candlestick represents a time frame. So, for example, you can set the chart to follow the 1-minute time frame, and each candlestick will show the opening and closing price of the specified minute. While the different trading tools provide different information, almost all of them will also display the highest and lowest price within the specified time frame, the price’s amplitude, and the price change from the opening, amongst a variety of other indicators. On top of the charts, you will also find the possibility to add or remove indicators. These include moving averages, trend lines, Fibonacci retracement levels, the Relative Strength Index (RSI), and others.What affects the price of Polkadot (DOT)?
DOT is the native cryptocurrency of the Polkadot ecosystem, and it’s a tradeable digital asset just like any other cryptocurrency, such as BTC or ETH (Ethereum). Its price is affected by supply and demand, but the broader crypto market can also have an impact on this. DOT is considered an alternative coin or an “altcoin” (all cryptocurrencies besides Bitcoin are called altcoins). It’s a well-known fact that Bitcoin’s price has an impact on the entire market, which tends to go in line with the primary cryptocurrency. Therefore, DOT’s price might also be positively or negatively impacted by fluctuations in the wider market. In addition, since DOT is the native token of Polkadot, any positive or negative developments associated with the network might impact its price. For example, a partnership with a reliable and well-known publicly-listed company might push DOT’s price up, while a network outage might push its price down.What are Polkadot (DOT) price predictions based on?
Polkadot price predictions can be based on a variety of both external and internal factors. An external factor would be the condition of the broader cryptocurrency market. For example, if an analyst expects the whole industry to take off, this might also mean that a positive DOT price prediction would be more likely to come true. On the other hand, internal factors might be developments associated with Polkadot - the network behind DOT. For instance, one might suspect that the team is about to release a major protocol upgrade based on community proposals and public voting, which could positively affect the price of DOT. Therefore, a bullish prediction might be more adequate as opposed to a bearish one. Technical trading factors might also come into play when making a prediction. If DOT is trading near an established level of support, traders might expect it to bounce because it taps into a larger liquidity pool, and so forth.Disclaimer: CryptoPotato has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.
